Research Digest
Post-Holiday Success: 4 “Q5” Trends That Drive Year-Round Growth
by Cat Hausler
Abstract
- Q5 (Dec. 26-Jan. 31) presents untapped opportunities for savvy advertisers — 25% more conversions occurred after Christmas in 2024.
- “Returnuary” shoppers come with spending power — 83% use gift cards for post-holiday deals, spending $81 more than card value on average.
- Engaged audiences don’t disappear on Dec. 26th — January is the third highest month for holiday-focused CTV viewership, allowing brands to extend seasonal creative.
- Travel brands leverage Q5 for year-round success — “wave season” offers valuable lessons for advertisers across industries.
While some advertisers hit pause after the holidays, assuming consumer spending has slowed, they’re missing a critical window of opportunity. The period from December 26th through January 31st — what we call “Q5” — represents far more than just holiday recovery time. This timeframe offers significant value as shoppers redeem gift cards, exchange unwanted presents, and act on New Year’s resolutions with genuine purchasing intent.
To understand how brands can maximize this often-overlooked season, we analyzed both MNTN Performance TV advertiser data and broader market research. Here are the top trends we found to turn your year-end transition into a competitive advantage.
Use Q5 To Retain and Re-Engage Holiday Shoppers
January has emerged as what Microsoft Advertising calls “the secret MVP of the holiday season” with 25% more conversions occurring after Christmas in 2024. This highlights that consumer activity doesn’t come to a screeching halt when the holidays are over. New year, new reasons to buy things.
Better yet, post-holiday consumer engagement comes with a lower price tag. Advertising costs often drop in mid-December and stay low through early January, allowing brands to focus on building lasting customer relationships with quality touchpoints rather than on how to beat their competitors. For brands that stay active, Q5 becomes a prime moment to retain and re-engage holiday shoppers.
Our data supports this — MNTN advertisers who ran retargeting campaigns throughout Q5 experienced notable performance improvements. January saw a rise in return on advertising spend (ROAS), while both cost per acquisition (CPA) and cost per view (CPV) dropped significantly.
On top of this, visit rates climbed steadily after Christmas, indicating that engaged audiences remained active and ready to convert.
“Returnuary” Delivers Ready-To-Spend Consumers
Advertisers hoping to keep holiday momentum going are in luck — many Q5 shoppers come armed with gift cards and return receipts, and are on the hunt for post-holiday deals. The weeks following Christmas bring a spike in consumer returns in what’s aptly become referred to as ‘Returnuary.’
Returnuary shoppers aren’t just casual browsers, either. According to research by Blackhawk Network, 83% of consumers were excited to use gift cards on post-holiday shopping deals. Another win for retailers: 80% of shoppers said they’d spend more than their gift card’s value, with consumers planning to spend $81 extra, on average.
Our data validated this trend. MNTN advertisers that invested more during the Dec. 26 to Jan. 31 period saw revenue grow by 76% YoY.
Outside of YoY growth, industries that typically perform well during Q4 experienced continued success into Q5 2024/2025. Brands in the clothing and beauty spaces, respectively, saw revenue trend upward throughout the entire period. Meanwhile, spa services experienced notable revenue spikes immediately following Christmas 2024.
Engaged Holiday Audiences Don’t Disappear in January
The holiday season might wind down after Christmas, but holiday messaging doesn’t have to expire at 12:01 AM on December 26th. January is the third-highest month of the year for viewership of holiday-focused Connected TV (CTV) channels, underscoring that consumers stay tuned into seasonal programming well into the new year.
This presents an opportunity for advertisers who are willing to adapt their creative approach. Rather than retiring holiday-focused advertisements entirely, brands can extend the life of their Q4 efforts — a simple voiceover change or end card edit can transform holiday-focused ad creative into messaging that captures Q5’s deal-hunting theme. Think “The season may be over, but the savings continue into the new year”.
Success with this creative strategy is strengthened by reaching audiences where they’re actually consuming holiday content — premium streaming networks. Top-tier CTV inventory attracts viewers who are more likely to convert. Because of this, advertisers need to ensure their campaigns run on high-quality networks to effectively reach consumers who remain in holiday mode and ready to shop.
Cruising Into Q5: From Wave Season to Year-Round Success
Q5 isn’t just about capturing post-holiday opportunities, it’s also a time for advertisers to plant seeds that will ensure success throughout the upcoming year. For example travel brands — particularly cruise lines — have turned this period into one of their most profitable seasons.
For the cruise industry, Q5 kicks off “wave season” — their equivalent of Black Friday that runs from late December through March. Travel Weekly reports that wave season deals are starting earlier and selling out faster, with 2025 turning out to be one of the strongest seasons in years. Cruise bookings are now stretching nine months out — two months longer than pre-pandemic timelines — as travelers lock in details long before the actual trip.
MNTN campaign data underscores the power of wave season. Travel advertisers saw strong average order values (AOV) and average ROAS during Q5, signaling that consumers transitioned seamlessly from holiday spending to vacation dreaming.
This early travel planning behavior benefits more than just cruise lines — luggage brands, athleisure lines, swimwear companies, outdoor gear retailers, and other “travel adjacent” advertisers can all reach vacation-minded consumers.
What travel brands have learned about Q5 applies across industries: success comes from balancing immediate opportunities with long-term planning. Whether an advertiser is travel adjacent or in a completely different industry, the key is identifying when their audience enters planning mode for future purchases. By reaching consumers during this planning phase, brands establish a competitive edge — proactively capturing customer attention for when they’re ultimately ready to buy.
Make Q5 Your Competitive Advantage
From re-engaging holiday shoppers with gift cards in hand to planting seeds for year-round success, Q5 offers multiple distinct opportunities for advertisers. The key to Q5 success is treating it as an extension of holiday season strategies rather than an afterthought.
For brands looking to maximize Q5 performance, Connected TV (CTV) provides the perfect channel for success. And choosing an advertising platform that offers premium inventory will ensure campaigns reach engaged viewers exactly when and where they’re most receptive. As we head into 2026, the brands that recognize Q5’s potential — and act on it — will find themselves ahead of the curve all year long.
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Resources
1 MNTN Performance TV advertiser data, 12/23/24-1/31/25 and 12/26/23-1/31/24 vs. 12/26/24-1/31/25 (MNTN)
2 Holiday 2024 wrapped: Advertising trends that defined the season (Microsoft Advertising)
3 Why Q5 Signals a Shift for Ecommerce in 2025 (STREETFIGHT)
4 ‘Returnuary' — after the peak shopping season comes the busiest return month of the year (NBC New York)
5 Post-Holiday 2024 Research Infographic (Blackhawk Network)
6 What to Know About Wave Season 2025 (Conde Nast Traveler)
7 Latest on cruising's Wave: Analyst says 2025 is a 'strong' year (Travel Weekly)